What Is Your Injury Case Worth?
A review of the factors that go into it and what you can do to maximize results.


December 30, 2009 /24-7PressRelease/ -- By: Steven J. Greeley, Jr., Partner, Franks, Gerkin & McKenna, P.C.

The question in the title of this article is a question that involves many factors. This is why, despite what you may be led to believe by insurance companies or others, it is important to talk to an attorney about the value of your case no matter how minor the injury to take the steps necessary to get the appropriate compensation for the injury. This article provides you with the background of the different factors involved that you may or may not have considered. Certain injuries, including work related injuries and injuries caused by certain entities such as taverns and railroads are governed by different laws. All car accidents, slip and fall accidents and other premises liability issues apply here.

A person who has been involved in an accident that does not have special rules is allowed to recover certain damages from the responsible party under the law. These damages include any property damage, present and future medical expenses, present and future lost wages, disfigurement, disability, past and future pain and suffering and past and future loss of a normal life. The property damage and medical costs can be easily calculated. However, especially when it pertains to car accidents, those costs may be covered by your own insurance. It is also important to have these costs paid by insurance if possible. The responsible person or insurance company is not required to make any payment until they agree to or until there is a Court Order requiring it.

Therefore, the monetary compensation that will go directly to the injured person is usually based in the value of the other factors listed above. Clearly, any lost wages due to the injury should be allowed as long as your doctor has approved the time off. The remaining factors are much more difficult to calculate and depend on the severity of the injury involved, whether the injury has fully healed or if there will be future
issues.

When a case is evaluated by an insurance adjuster or an attorney, the amount of money demanded and offered largely results from a risk/reward analysis by reviewing the facts of the case and forecasting, to the best of their ability, what the likely spectrum of results could be after a trial and then putting a dollar figure value on the case. The injured person and the liable person and their insurance company are adversaries and each are trying to benefit themselves as best as possible. The injured person is trying to obtain as much money as possible for the damages resulting from the injury and the negligent parties and their insurance companies are looking to minimize their losses.

When an offer is made or an award is given in court for an injury, it is generally an award of a lump sum amount that has been determined based on all of the factors above. Please beware that this offer/award has not taken the attorney fees, costs, and medical bills or other bills into account. The medical bill award is actually an award for the benefit of whoever pays them, which is usually an insurance company and they are usually entitled to reimbursement. Often times, due to the ability to recover the full amount billed for the services and the reduction of that amount by the insurance company and by the law for getting the Court Order, much less money then what is awarded is actually paid to the insurance company and therefore additional money is provided to the injured person.

Another consideration that obviously needs to be reviewed and analyzed is the facts and circumstances of the accident and whether the injured person has any percentage of fault for the accident. Under the law, as long as the injured person is less then fifty percent at fault, they are entitled to recovery of a pro-rata percentage of the damages. Therefore, if the injured person was awarded $100,000.00 for their injury, but was determined to be ten percent at fault, their award would be reduced to $90,000.00. If the injured person is fifty percent or more at fault, they are entitled to nothing.

Finally, regardless of the value of the case, certain insurance limitations on the amount of money the injured person can actually receive may apply. If the liable party is uninsured or underinsured, which means that they have too little insurance to fully compensate you for the value of your case, your recovery depends on whether the injured person has adequate uninsured or underinsured motorist coverage. Otherwise, you may be entitled to an award for the full amount of your damages but collection would need to be undertaken against the liable party individually and if they have little or no assets or they file bankruptcy this may be difficult or impossible.

To summarize, the evaluation of the value of a case is very complex and an attorney should be consulted to determine where the injured person stands. Contacting and retaining an attorney at the earliest stage possible will maximize the results so that actions are not taken that jeopardize the value of the claim. When the injured person speaks to an attorney, the factors above are good to know so the injured person can provide information to the attorney to achieve the best results possible.

Source: Franks, Gerkin & McKenna, P.C.
Website: http://www.fgmlaw.com



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Press Release Contact Information:

Steven Greeley
Franks, Gerkin & McKenna P.C.
Partner
19333 East Grant Highway
Marengo, IL
USA 60152
Voice: (815) 923-2107
Fax: (815) 923-2114
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